Api Group Corp SEC Filings

APi Group Corp SVP and Chief People Officer Kristina M. Morton reported several equity transactions. She received grants of 14,004 performance stock units and 9,336 restricted stock units, and exercised 27,381 performance stock units into 50,902 shares of common stock. To cover tax liabilities, 24,154 common shares were withheld at a price of $44.99 per share, leaving her with 104,441 directly held common shares and additional indirect holdings through the company’s 401(k) plan.

APi Group Corp senior vice president and general counsel Louis Lambert reported mixed equity transactions. He completed an open-market sale of 22,000 shares of Common Stock at an average price of about $44.71 per share, leaving 16,148 Common shares held directly.

On the same date range, Lambert acquired equity through incentive awards, including a grant of 15,864 Performance Stock Units and 10,576 Restricted Stock Units at no cost, plus the settlement of previously granted 2023 performance share units into Common Stock. A separate disposal of 30,882 Common shares was made to cover tax liabilities. He also reports holdings in Performance Stock Units, Restricted Stock Units, and 953 Common shares held indirectly in a 401(k) plan.

APi Group Corp President and CEO Russell A. Becker reported several equity compensation transactions in company stock and units on February 24, 2026. He received 110,025 performance stock units and 73,350 restricted stock units as equity awards at no cash cost. A prior 219,045 performance stock unit award was exercised into 407,205 shares of common stock, and 200,343 shares of common stock at $44.99 per share were withheld to cover tax obligations. After these moves, he directly owned 2,425,699 shares of common stock, alongside additional indirect holdings through his spouse, several trusts, family members, and a 401(k) plan.

APi Group Corp EVP & CFO Glenn David Jackola reported multiple equity compensation moves on February 24, 2026. He received 29,340 performance stock units and 19,560 restricted stock units at no cost, and exercised 9,608 performance stock units into 17,862 shares of common stock. To cover tax obligations, 7,886 common shares were withheld at $44.99 per share. After these transactions, he directly held 26,831 shares of common stock plus various outstanding PSU and RSU awards, and indirectly held 1,557 shares through the company’s 401(k) plan.

APi Group Corporation describes itself as a global business services provider focused on fire and life safety, security, elevator and escalator, and specialty contracting, operating from over 500 locations in more than 20 countries. The company emphasizes recurring, regulation-driven inspection, service, and monitoring revenue, supported by a decentralized operating model and a long history of acquisitions, with 140 deals completed since 2005.

APi reports two main segments: Safety Services, centered on fire protection, electronic security, and elevator/escalator solutions, and Specialty Services, which provides specialty contracting, fabrication, and infrastructure work. It highlights diversified customers, low single-customer concentration, and an asset-light model aimed at strong margins and cash flow.

The filing also outlines extensive risk factors, including international regulatory exposure, ERP implementation and cloud dependence, project execution and fixed-price contract risk, significant indebtedness, goodwill and insurance exposures, cyclical and seasonal demand, heavy use of union and collective-bargaining labor, and reliance on acquisitions and divestitures to support growth.

APi Group Corporation reported record fourth quarter and full year 2025 results. Fourth quarter net revenues were $2.1 billion, up 13.8%, with organic growth of 11.1%. Net income rose to $97 million and adjusted EBITDA reached $295 million, for a margin of 13.9%.

For 2025, net revenues were $7.9 billion, up 12.7%, with net income of $302 million. Adjusted EBITDA was $1.04 billion and margin improved to 13.2%. Adjusted free cash flow was a record $836 million with 80% conversion and net leverage of 1.6x.

The Safety Services and Specialty Services segments both delivered double-digit revenue growth in the fourth quarter, with margin expansion in Safety Services and stronger project-driven profitability in Specialty Services. For 2026, APi targets net revenues of $8.4–$8.6 billion, adjusted EBITDA of $1.14–$1.20 billion, and adjusted free cash flow conversion of roughly 115%.

APi Group Corporation released an update on its 2025 performance and initial 2026 outlook. Management expects 2025 net revenues and adjusted EBITDA to come in comfortably above the October 30, 2025 guidance midpoints of $7,825 to $7,925 million and $1,015 to $1,045 million. Adjusted EBITDA margins are expected to exceed the 13% target, with adjusted free cash flow conversion around the 80% target. The company also expects to end 2025 with a net leverage ratio significantly below 2.0x, versus its 2.5–3.0x target. For 2026, APi guides to net revenues of $8,400 to $8,600 million and adjusted EBITDA of $1,140 to $1,200 million, implying a 13.8% adjusted EBITDA margin at the midpoint.

APi Group Corporation’s major shareholder Sir Martin E. Franklin has updated his ownership disclosure in an Amendment No. 10 to a Schedule 13D. As of the event date, he beneficially owns 55,536,501 shares of APi Group common stock, representing 12.7% of the class under SEC Rule 13d‑3(d). This total includes Series A Preferred Stock that is convertible into common stock within 60 days and shares subject to a proxy giving him sole voting power.

The beneficial ownership is held through several entities: 24,240,426 shares are held by MEF Holdings LLLP (about 5.6%), 2,711,692 by Brimstone Investments LLC (about 0.63%), and Mariposa Acquisition IV, LLC holds 4,000,000 shares of Series A Preferred Stock convertible into 6,000,000 common shares plus 137,000 common shares (about 1.4% in aggregate). Sir Martin also has sole voting power over 22,447,383 additional shares via a proxy agreement (about 5.2%). The amendment notes that on December 31, 2025, MEF Holdings LLLP gifted 499,680 common shares to a 501(c)(3) private charitable foundation.

APi Group Corp director-related entity reports open-market share purchases. A limited liability company associated with director Anthony E. Malkin, WH Four Winds LLC, bought APi Group common stock in three open-market transactions: 2,000 shares at $39.46 on 11/26/2025, 2,000 shares at $39.03 on 12/05/2025, and 3,000 shares at $39.58 on 12/10/2025, for a total of 7,000 shares held by that entity after the transactions. The filing also shows Malkin with 140,874 APi Group common shares held directly, 125,100 shares held indirectly through Peter Malkin Family LLC, and 41,700 shares held indirectly through Row Jimmy LLC. In addition, he holds 7,844 restricted stock units that each represent a right to receive one APi Group share and are scheduled to vest on May 16, 2026, subject to continued service. Share amounts reflect adjustment for a three-for-two stock dividend effective June 30, 2025.